The ATR/QM rule was finalized in January 2013 and amended in May, July, and October 2013. The Real Estate Settlement Procedures Act (RESPA) servicing rule was also finalized in 2013.

Specifically, the ATR/QM rule describes the minimum standards that must be used to determine that consumers have the ability to repay the mortgages they are extended, providing eight specific factors to consider. It also defines the requirements for QMs and how QM status works.

CUNA addressed the need for changed in the ATR/QM rule in its letter sent to CFPB Director Kathy Kraninger after she was confirmed by the Senate in December.